This Terms of Service (“Agreement”) constitutes a legally binding agreement between you and Cherry Global Technology Limited (“CherryPay”, “we”, “us”, “our”) regarding your access to and use of our products, services, and features available on our website, mobile application, or other digital platforms (collectively, the “Platform”). By creating an account, accessing, or using our Services, you acknowledge that you have read, understood, and agree to be bound by this Agreement. 

1. Version Control

We may update this Agreement from time to time. When we do, we will revise the “Last Updated” date above. We may notify you via email or through the Platform, but you agree that it is your responsibility to review this Agreement regularly. Continued use of our Services after changes indicates your acceptance of the updated terms.

2. Definitions

For the purpose of this Agreement:

• “Applicable Law” means all laws and regulations in the jurisdictions where we operate.

• “Platform” means the CherryPay website, mobile application, or digital platforms.

• “CherryPay Account” means the multi-currency account provided by CherryPay through licensed financial institutions.

• “Virtual Card” means a CherryPay-issued digital payment card for online transactions.

• “Deposit” means the transfer of funds into your CherryPay Account.

• “Transaction” means currency exchange, payments, transfers, card usage, utility payments, or remittance services made via the Platform.

• “Fees” means charges associated with deposits, transactions, card issuance, or other Services.

• “Business Days” means days when financial institutions in the relevant jurisdiction are open for business.

3. Nature of Our Services

CherryPay is a financial technology company, not a bank. We provide access to multi-currency accounts, international and local payments, currency conversion, utility payments, and virtual card services. All financial services are facilitated through our licensed banking and payment partners.

4. Onboarding & Verification

To use our Services, you must:

• Provide accurate and complete personal or business information during registration (such as legal name, address, identification documents, source of funds, etc.).

• Undergo identity verification (KYC) and provide supporting documents as requested.

• Ensure that all information remains accurate and up to date.

We reserve the right to suspend or terminate your account if we detect false information, suspicious activity, or non-compliance with Applicable Laws.

5. Deposits and Transactions

• Deposits must be made via approved payment methods.

• Transactions will be processed based on the beneficiary details you provide. You are solely responsible for the accuracy of this information.

• Currency conversions will be carried out at the applicable exchange rate provided on the Platform.

• Processing times may vary and may be delayed due to compliance checks or unforeseen circumstances.

6. Fees

• You agree to pay all applicable Fees as displayed on the Platform.

• Fees are automatically deducted from your CherryPay Account at the time of the transaction.

• CherryPay may revise Fees at any time, and continued use of the Services constitutes your acceptance.

7. Reversals and Refunds

• Completed transactions are generally final and non-refundable, except as required by Applicable Law.

• If a transaction is reversed or disputed, you are responsible for covering the reversed amount plus any applicable Fees.

• Refunds, where applicable, will be credited in the original payment currency, subject to exchange rate adjustments.

8. Account Security

• You are responsible for maintaining the confidentiality of your login credentials.

• Any transactions carried out using your account credentials will be deemed authorized by you.

• CherryPay is not liable for losses arising from your failure to secure your account.

9. Acceptable Use

You agree not to use our Services for:

• Money laundering, fraud, or illegal activities.

• Transactions involving sanctioned countries, individuals, or entities.

• Activities that violate Applicable Law or third-party rights.

• Attempts to tamper with, reverse engineer, or disrupt the Platform.

10. Limitation of Liability

• Services are provided on an “as is” and “as available” basis.

• We do not guarantee uninterrupted, error-free, or virus-free Services.

• CherryPay will not be liable for indirect, incidental, or consequential damages, except in cases of gross negligence or willful misconduct.

11. Indemnity

You agree to indemnify and hold harmless CherryPay, its partners, and affiliates from any claims, damages, or losses arising from your breach of this Agreement, misuse of the Services, or violation of Applicable Law.

12. Confidentiality

We treat all personal and business information you provide as confidential, except where disclosure is required by law, regulators, or as necessary to deliver our Services.

13. Third-Party Services

Some Services may rely on third-party partners (e.g., banking institutions, payment processors). By using our Services, you agree to be bound by any additional terms required by such third parties.

14. Governing Law

This Agreement shall be governed by and interpreted in accordance with the laws of [Insert jurisdiction, e.g., United Kingdom or Singapore]. Any disputes will first be resolved through negotiation, and if unresolved, through mediation or arbitration.

15. Updates and New Features

We may update, modify, or introduce new features on our Platform. Continued use of our Services constitutes acceptance of such updates.

16. Electronic Communication & Signatures

By using CherryPay, you consent to receiving communications electronically (via email or Platform notifications). Digital agreements and signatures are legally binding.

17. Contact Us

If you have any questions about these Terms, please contact us at:
📧 legal@cherrypay.com

Last Updated : October 2, 2025